Long-Term Care Security Act of 1993

Summary

TABLE OF CONTENTS: Title I: Tax Treatment of Long-Term Care Insurance Title II: Protection of Assets Under Medicaid Through Use of Qualified Long-Term Care Insurance Title III: Studies Long-Term Care Security Act of 1993 - Title I: Tax Treatment of Long-Term Care Insurance - Amends the Internal Revenue Code to provide for the treatment of qualified long-term care insurance as accident and health insurance for purposes of insurance company taxation. Excludes from gross income benefits provided under a long-term care insurance contract. Includes in gross income employer-provided coverage for long-term care services. Includes amounts paid for qualified long-term care services as medical expenses for individual itemized deductions. Includes any parent or grandparent as a dependent for purposes of such expenses. Provides for the nonrecognition of gain or loss on the exchange of any life insurance contract or an endowment or annuity contract for a long-term care insurance contract. Excludes from gross income certain amounts withdrawn from individual retirement accounts and certain employer cash or deferred arrangements to pay long-term care premiums. Provides for the exclusion as a death benefit of any amount paid or advanced to an individual under a life insurance contract because such individual is terminally ill or chronically ill and confined to a qualified facility. Allows insurance companies to issue accelerated death benefit riders on life insurance contracts. Title II: Protection of Assets Under Medicaid Through Use of Qualified Long-Term Care Insurance - Amends title XIX (Medicaid) of the Social Security Act to disregard assets which are attributable to coverage under a qualified long-term care insurance contract for purposes of eligibility. Title III: Studies - Directs the Comptroller General to study the feasibility of: (1) encouraging health care providers to donate their services to homebound patients; and (2) providing heads of households who care for elderly family members in their homes with a tax credit.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 30 July 1993

   Introduced

   Referred to the House Committee on Energy and Commerce.

   Source: IntroReferral

2. 30 July 1993

   Introduced

   Introduced in House

   Source: IntroReferral

3. 30 July 1993

   Introduced

   Introduced in House

   Source: IntroReferral

4. 4 August 1993

   Referred

   Referred to the Subcommittee on Health.

   Source: Committee

5. 4 October 1993

   Referred

   Referred to the Subcommittee on Health and the Environment.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 30 July 1993 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 30 July 1993

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 30 July 1993

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 30 July 1993

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  Leesvertaling

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Johnson, Nancy L. [R-CT-5] · R · Sponsor
• Rep. Goss, Porter J. [R-FL-14] · R · Sponsor
• Rep. Bilirakis, Michael [R-FL-9] · R · Sponsor
• Rep. Sundquist, Don [R-TN-7] · R · Sponsor
• Rep. Hobson, David L. [R-OH-7] · R · Cosponsor
• Rep. Miller, Dan [R-FL-13] · R · Cosponsor
• Rep. Canady, Charles T. [R-FL-12] · R · Cosponsor
• Rep. Smith, Christopher H. [R-NJ-4] · R · Cosponsor
• Rep. Fish, Hamilton, Jr. [R-NY-19] · R · Cosponsor
• · hsif00 · Standing
• · hswm00 · Standing

Related records

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